The finances of the oil and gas industry are so dismal that the major banks that have funded the money-losing fracking boom are now exploring taking the unusual step of taking over the oil companies that cannot afford to pay back the banks’ loans.
“This headline-baiting net zero proposal, which lacks any targets or detail, comes as Barclays issued an updated energy policy, demonstrating that it will continue to finance climate-wrecking tar sands and fracking,” said Greenpeace UK’s climate finance adviser, Charlie Kronick.
He added: “The whole thing stinks of hypocrisy. It’s nothing but an attempt to pull the wool over the eyes of shareholders who rightly want the bank to end its contribution to catastrophic climate breakdown.”
Government is reimbursing Lancashire Constabulary £1.28 million towards the cost of policing the Preston New Road fracking site. Last year Lancashire’s Police and Crime Commissioner, Clive Grunshaw, made a Special Grant application to cover £1.5 million of costs in relation to Operation Manilla. The claim was reviewed and officials decided to award £1.28 million on the basis that the remaining costs (£220k) are met by Lancashire Constabulary.
Proposals to test the Balcombe oil well in West Sussex would compromise the protected landscape of the High Weald, council planners said today.
In a report opposing an application by Angus Energy, the planners recommended permission be refused.
They said the proposal for three years of testing would “establish a continued presence of industry which is not appropriate to the area”.
A government fund to help English councils deal with shale gas planning applications appears to have paid out just 20% of what was available. A ministerial answer last week revealed that the shale support fund, which ran for five years until February 2020, paid nearly £1m to mineral planning authorities. But analysis by DrillOrDrop shows that the government allocated £4.8m to the fund during that period.
The Grangemouth multinational, Ineos, has withdrawn its bid to drill for underground coal gas in central Scotland, ending a ten-year controversy.
In September 2019, the company received its third formal warning from the Environment Agency (EA) in just over a year. It had failed to monitor key substances in groundwater and failed to tell the EA about missing data. It was also accused of poor communication and supervision of the company carrying out the monitoring. In December 2019, the EA said Cuadrilla had breached a condition on methane monitoring.
A group of environmental activists, public health professionals and campaigners are fighting fracking, climate change, petrochemicals and plastic pollution.
Cuadrilla’s Planning Application
The Fracking Moratorium
United Nations Urged to Ban Fracking
RAG AGM & Chair’s Address
One More Thing